Dicerna Receives "Deal of the Year: Healthcare" Award at the 2nd Annual NEVY Awards Hosted by the New England Venture Capital Association

Watertown, MA, May 19, 2014 - Dicerna Pharmaceuticals, Inc. (NASDAQ: DRNA), a leader in the development of RNAi-based therapeutics, today announced the Company received the "Deal of the Year- Healthcare" award at the 2014 NEVY Awards, a celebration of the most innovative and exciting companies in Boston hosted by the New England Venture Capital Association (NEVCA).

"We are honored to be recognized by NEVCA," said Douglas M. Fambrough, PhD, Dicerna's President and CEO. "The past twelve months have been transformational for Dicerna. With the successful completion of our Series C in July 2013 and recent IPO, we are in a strong financial position to pursue our mission to treat rare inherited diseases involving the liver and for genetically defined cancers using our Dicer substrate RNA interference (DsiRNA) platform technologies. In April, we made an important step in this pursuit with the initiation of our first Phase 1 study of DCR-MYC in patients with solid tumors, multiple myeloma, or lymphoma."

The "Deal of the Year - Healthcare" award is given to the company with the most significant venture-related transaction of the last 12 months not involving a change of control as voted by NEVCA. With more than 700 venture capital professionals representing 90 firms investing in tech and life sciences, NEVCA members share the common goal of maintaining a vibrant venture capital community in New England that helps keep the thriving startup ecosystem strong.

About Dicerna Pharmaceuticals, Inc.
Dicerna is a biopharmaceutical company focused on the discovery and development of innovative treatments for rare inherited diseases involving the liver and for cancers that are genetically defined. Dicerna is using its proprietary RNA interference (RNAi) technology platform to build a broad pipeline in these therapeutic areas and intends to discover, develop and commercialize novel therapeutics either on its own or in collaboration with pharmaceutical partners.

Cautionary Note on Forward-Looking Statements
This press release includes forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Applicable risks and uncertainties include those identified under the heading "Risk Factors" included in the prospectus related to the initial public offering, and in other filings that Dicerna may make with the SEC in the future. The forward-looking statements contained in this press release reflect Dicerna's current views with respect to future events, and Dicerna does not undertake and specifically disclaims any obligation to update any forward-looking statements.